Ethereum Climbs 11% In Bullish Trade

Ethereum experienced a significant increase in value, trading at $2,503.37, up 10.84% as of 02:17 (06:17 GMT) on Tuesday. This marks the largest one-day percentage gain for the cryptocurrency since May 20.

As a result of this upward trend, Ethereum’s market capitalization rose to $303.51 billion, accounting for 15.30% of the overall cryptocurrency market cap. At its peak, Ethereum’s market cap reached $569.58 billion.

In the prior twenty-four hours, Ethereum traded within a range of $2,415.98 to $2,546.14. However, over the past week, Ethereum has experienced a decline of 23.74%. The trading volume for Ethereum in the last twenty-four hours was $47.68 billion, representing 24.59% of the total volume across all cryptocurrencies. During the past week, its trading range was between $2,166.31 and $3,348.63.

Currently, Ethereum remains down 48.53% from its all-time high of $4,864.06, achieved on November 10, 2021.

In other cryptocurrency news, Bitcoin was last recorded at $55,578.6, reflecting a 7.99% increase for the day. Additionally, Tether USDt was trading at $1.0008, up by 0.09%. Bitcoin’s market capitalization was approximately $1,104.21 billion, making up 55.65% of the total cryptocurrency market cap, while Tether USDt’s market cap stood at $114.62 billion, representing 5.78% of the overall cryptocurrency market value.